Do you want to keep your best employees happy and productive? If so, you should be thinking about implementing employee perks in your company. They’re benefits that are offered to employees beyond their normal salary.
With the expansion of businesses across the globe and the implementation of better human resources practices, employee perks have become an essential component of retention and satisfaction.
In this blog, we will discuss what employee perks are, why they matter, how to implement them in your company, and what exactly the 101 Financial perk is.
What Are Employee Perks?
There are a variety of employee perk ideas that you can offer your employees. Some popular employee benefits include free food, flexible work hours, and paid time off. However, the list of possible perks is endless. You can tailor the employee perks to fit the needs of your company and your employees.
Some common employee benefits may include:
- Free food or drinks
- Flexible work hours
- Paid time off
- Discounts on company products or services
- Gym memberships or subsidies
- Childcare vouchers or subsidies
As you can see, employee perks can vary as much as businesses themselves. It’s important to take a look at your own business and management style and see what the best perks would be for your workers.
Why Do Employee Perks Matter?
Employee benefits matter because they help keep your employees happy and productive. Happy employees are more likely to be productive employees. In fact, research has shown that employee satisfaction leads to increased productivity, creativity, and innovation.
Employee perks are a great way to help achieve a healthy work-life balance. The happier your employees are at home, the happier they are likely to be at work!
Additionally, perks can help attract new talent to your company. As businesses struggle to market themselves and distinguish themselves from others, they can be a way to set your company apart.
How to Implement Employee Perks in Your Company
Once you have decided that implementing employee perks for your company might be a good idea, the tricky part is figuring out exactly how to do that. On one hand, you don’t want employee perks to be too complicated or difficult for employees to take advantage of. On the other hand, you don’t want employee perks to be so simple that employees don’t feel appreciated.
The best way to implement your employee perk ideas is to make them available to all employees. This will ensure that everyone feels equally valued and appreciated.
You can also create a committee or task force to help manage employee benefits. This committee should be responsible for coming up with new employee perk ideas, researching different employee perk options, and overseeing the implementation of employee perks.
What is the 101 Financial Perk?
At 101 Financial we believe in offering employees more than just a salary. 101 Financial provides financial education to help employees use their salary to their greatest advantage. Companies that offer financial education as an employee perk see reduced employee financial stress, increased productivity, and an improvement in workplace wellness.
According to the PwC 2018 Employee Financial Wellness Survey when employees were asked to complete the sentence “My employer financial wellness program has helped me…” employees said:
41% got their spending under control
39% prepared for retirement
31% paid off debt
27% saved for major goals (home, education)
23% better managed their investments/asset allocation
12% better managed healthcare expenses or saved for future healthcare expenses
If you are interested in financial education and these types of results as an employee perk, contact us today!